September 22, 2004

China/Consortium Backs out of LPG Depot Purchase

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Sept. 22, 2004--Largo Vista Group, Ltd. (OTCBB:LGOV) announced today that, after 60 days of due diligence, the LPG consortium, headed by LGOV, has decided not to purchase an LPG depot in the Guizhou Province of China. "Having reviewed all of the facts pertaining to the purchase of the LPG (liquid petroleum gas) depot in Zunyi," stated Ms. Denise Deng, General Manager of LPG operations for Largo Vista Group, Ltd. in China, "it was discovered that documents from the courts and City Administration Bureau outlined new requirements for the depot making the purchase price unacceptable to our group." "The City is requiring replacement of all valves and pipelines to the storage tanks, a new fire road, removal of telephone and electrical wires, and the relocation of a small residential area at a cost of over two million RMB." "These requirements have made this particular depot purchase unreasonable." Ms. Deng went on to say, "Recently, we decided not to exercise the purchase of an option-to-buy lease agreement on the other LPG depot that Largo Vista Group operated for the last couple of years." "That decision had very little effect on our LPG operations, but the experience showed that a joint purchase of an LPG storage depot in this province would be the best way to go in offsetting costs for all involved."

Largo Vista Group, Ltd., an international energy trading and service company, has headquarters in the United States with offices in China and Vietnam. The company has multiple retail LPG bottle outlets and recently completed two LPG residential pipeline projects in the Guizhou Province. Largo Vista Group is poised to break ground on a network of LPG pipelines in a new master-planned residential community. Each LPG project is contracted for a 40-year exclusive right-to-supply agreement. Largo Vista Group's management spearheaded the organization of the first LPG association, Zunyi Gas Association, the members of which helped standardize new guidelines for the LPG market in that region. For more information go to www.largovista.com.

Forward-Looking Statements

Certain statements included herein may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors. These risks and uncertainties, and certain other related factors, are discussed in the Company's Form 10-KSB, Form 10-QSB and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of this date and the Company assumes no obligation to update such forward-looking statements. These risks and uncertainties, and certain other related factors, are discussed in the Company's Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this release and the Company assumes no obligation to update such forward-looking statements.

Contact:
Largo Vista Group
Investor Relations, 949-252-2180

Source: Largo Vista Group, Ltd.

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